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EU Says It’s Less Confident About Closing Iran Nuclear Deal

·1 min read

(Bloomberg) -- The European Union’s chief diplomat played down the prospect of a rapid revival of the Iranian nuclear deal, saying the chances of an agreement between Tehran and world powers had faded.

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“I am less confident today than 28 hours before on the convergence of the negotiation process,” Josep Borrell told reporters in Brussels on Monday. “If the process doesn’t converge, the whole process is in danger. If the purpose is to close the deal quickly, it’s not going to happen.”

The US, EU and other powers have negotiated with Iran for more than a year to revive a 2015 accord that eased sanctions on Tehran in return for it curbing nuclear activities. A deal, stringently opposed by Israel and many members of the US Congress, could weigh on oil prices since it would allow Iran to ramp up production.

Borrell’s comments echo those of the US State Department, which said last week that Iran’s response to a recent EU draft was “not constructive.”

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